Heritage Home Group LLC announced that it and its affiliates have signed an agreement for a newly-formed entity of Authentic Brands Group and SB360 Capital Partners LLC to acquire HHG’s Broyhill and Thomasville & Co. (including Thomasville, Drexel and Henredon) brands and to serve as the stalking horse bidder for these brands and related intellectual property assets in a court-supervised auction expected to take place within the next 60 days. 

Authentic Brands Group (ABG) is a brand development, marketing, and entertainment company which owns a global portfolio of entertainment and lifestyle brands. This agreement relates only to the Thomasville & Co. and Broyhill brands, and it does not affect the previously-announced agreement for the Luxury Group business unit by an affiliate of RHF Investments.

The Stalking Horse Bidder’s valuation of $22 million for the Broyhill, Thomasville, Drexel and Henredon brands represents a baseline bid, and it is subject to higher and better offers in the upcoming auction. HHG is continuing discussions with multiple interested parties, including strategic buyers, for both its Broyhill and Thomasville & Co. business units, and plans to announce the winning bidders once the auction is completed.

“This agreement with the Stalking Horse Bidder for the Broyhill, Thomasville, Drexel and Henredon brands is a clear sign of the value of these beloved names in the furniture industry,” said Chief Restructuring Officer Robert Albergotti. “We have received further interest in the brands and these business units and look forward to continuing these discussions in the period leading up to the auction. HHG continues to focus on servicing our customers throughout this process, and we remain grateful for the support of our employees, customers and all other stakeholders.”